‘Loss and damage’ fund tops UAE talks ahead of COP28
SINCE 2009, rich nations have failed to fulfil the pledge of $100bn every year in climate finance to developing nations.—AFP/file • 70 ministers gather to hammer out details before next month’s UN climate summit in Dubai • Many sceptical of rich countries’ willingness to set up the fund ABU DHABI: Setting up a “ loss and damage ” fund for poorer nations hit by climate change dominated preliminary talks on Tuesday one month before COP28 in Dubai, where delegates look set to tussle over the future of fossil fuels. Around 70 ministers have gathered since Monday at the Emirates Palace, a luxurious resort in the United Arab Emirates capital Abu Dhabi, to hammer out details before next month’s UN climate summit, the most important since the landmark Paris agreement in 2015. “The main focus for the moment is clearly the loss and damage fund,” said French Energy Minister Agnes Pannier-Runacher. The agreement to set up a dedicated fund to help vulnerable countries cope with climate ...